Public Body Land Tax Exemptions Tightened

Public Body Land Tax Exemptions TightenedThe State Government is tightening the land tax exemptions for public statutory authorities.Amendments to land tax legislations will mean that the only public statutory authorities exempt from land tax will be those that demonstrate that they were established to carry on an undertaking of a public nature for the benefit of the community.Making statutory authorities pay land tax when they compete with private owners of property has been welcomed by the Property Council.Bill Marmion, Minister for Finance, said “Unless this issue is addressed, these organisations will have an unfair advantage over other owners of commercial properties.””In addition, if the error is not addressed, tenants who lease property or part of a property from these entities will be directly liable for land tax on that part of the property leased.”In order to address other such anomalies and to ensure the system is fair for all land tax-payers, the Property Council calls on the State Government to engage with the property sector about genuine tax reform.